Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1887-03-09

million bushels of wheat must be deducted
from the estimated requirement.
The export of corn from the United States is
now larger than ever before, and the English
are getting the bulk Oft.
The following summary, which covers a large
space in calculations. is valuable at this juno
ture to the wheat producers of our Valley who
have their surplus on hand. 1t is compiled
from the NeD York Journal of Commerce OF the
9TH instant. The United Kingdom, for the four
months of March, April. May and June in
1885, imported $500 $50 bushels OF wheat and
wheat -four from foreign countries. In 1880
the importation was Al .48S, 1888 bushels of these
bread resources. The United States furnished
in 1885, 32 go 1875; and in 1885, % 65 2O2 bushels
Of these importations.
At 475,O0o qrs. or 100000 bush spring and
summer consumption, a very conservative es-
innate during the four months from March to
June, both inclusive. would be 6S 100000 bush
of wheat. The quantity of wheat on passage
for United Kingdom, March 8, 1887, is 24s. O0(
bush. less than on March T. 1856. Australia
India. Russia. Germany, France Chill, will al
have less wheat for export to the United King.
dom In 1887, March to June inclusive than in
1885, as the Continental demand promises ic
be very much larger in 1887 than in 1885. Ship.
ments from California, Australia and Chill
after March l. 1887, cannot be made available
this side of July l. 1887.
The home-deliveries of wheat in the United
Kingdom are smaller in 1887 than in 1886, and
will not probably reach in the four months
March to June inclusive, to exceed l6,5OOO
bushels.
In 1885, from March to June. both inclusive
all the countries outside of the United States
with only 1,l47, s6S bush. of wheat and flour
including 2, ga COO bush. on passage March /
1885. There was on March /, 1856. on passage
for tho United Kingdom from the Unitec
States Atlantic and Pacific ports Il, $40 COO bust
of wheat. leaving the quantity shipped from
the United States and arrived in the United
Kingdom from March l to July j, 1886, 5000, :
2O2 BUSH Summarizing the United Kingdoms
probable supplies from March to July l. 1887,
say home-deliveries 1650l,O0O bush. on pas
sage thence 16 81, 600 bush. supply from coun-
tries outside of the United States and Canads
same as in 1856, S,6SI 1868 bush. leaving for AT
lantic ports to supply The United Kingdom In
the eighteen weeks TO July !, 1887 &c. 500, Sc.
BUSH. or nearly 100000 bush. per week for the
average for the entire period. II the Continen-
tai demand shall take from Atlantic ports an
weeks it will make 5000 eco BUSH, and this
with the %. s66 6S2 bush. wanted by the United
Kingdom will make So sec, GS3 bush. wanted
from Atlantic ports. Taking the wheat move
ment of France for ten years as basis, the
wants of France alone from March l to July
81. 1887, will reach about 25 COO COO bushels.
With the consideration of the above calm
review of the situation we introduce the scene
at Chicago from the same authority as it oc.
Cured on the same day the statistician was at
work in making up his tables upon the wide
field of supply, though in the aggregate. it is
very small in amount, except as the quota of
the United States is counted:-
1.-The trading On Change to. day was one of
marked excitement in grain, accompanied by
sharp advance in prices. The advance in
delivery was advanced from 79c. up to 1916
where the market rested last night This
morning the market opened at S03Sc and had
very few stops until it had touched Size. The
buying all the way up was on q very free
scale, and the pit was the scene OF sharp excite.
ment with shorts" covering freely. Orders
came pouring in from the outside which ma
terially aided the market. From Si3lc. the
market was pounded down to size, hut with
in half an hour it was tending upward again
and only stopped when the price had touched
we, the market closing for the day at S2l5e.-
Foreign advices quoted steady and firm mar
kets. The ciearfngs from Atlantic ports aggre-
gated 2s3 900 bush. and liberal decrease in the
visible supply is expected by operators The
boom in corn was a counterpart of that in
wheat"
Very little is decided by the operations AT
Chicago one way or the other but as the
"bears" quote mostly that market. there is no
reason why they should not MAKE concessions
when it is on the ascending scale
The Liverpool wheat market on the 5,h in
slant ruled firm with lafr demand hold, RS of
for i,,frc oriD
quotations on the same day, there is repe-
ti,ion of The above.
The following comments are made by the
quoted above on the New York
wheat and corn market as tina rulings occur
red on the 5th instant:-
IN wheat. the bullish tendency was strong
to day. with the largest trading IN The options
for long while. There was extensive cover-
ing as well as fresh buying. Prices advanced
about lMa2l4c., near by months the most. but
reacted "a 2sc. The large ciearapces for the
week. and large reduction in visible supplies
exert influences. For spot stock the market
is 13IG92c. higher.
In corn, there was strong bulish feeling
Spot was held up 34@14c. shippers could not
pay me prices, ana me trading was nearly all
on home account The options met with strong
s incubation, especially May and June with
prices at lc advance"
The reference to corn is introduced here at the
leading export market of the United States in
support of the facts presented in the first part
of our comments in relation to the increasing
demand. for it is a bread-supply in the foreign
markets. We may also add that the New York
m arket ruled higher for patent flour, princi
pally fer home demand.
The Chicago Prairie Ftr1aer says the visible
supply OF wheat in the United States and
Canada on the Goth February, 1857, was 81, 627,-
sos against 50, las. $50 bushels 9th of February
1856 The authorities already quoted show a
ra pid reduction going on.
There are two things stated in these COM
ments that are conflicting. The India bulle-
tins indicate that there will be a larger GUAM
tity of wheat for export from that country
after the present harvest than there was in
1885, whilst the review in the Journal of Com
merce is TO the contrary, and this is the par.
tcular point that concerns our Valley wheat
growers, though very little OF their surplus
goes abroad.
Our wheat is superior 10 western No. 2, and is
mainly taken by the Atlantic Coast MiIlers,
but quotations of the Western rule the prices
of II. In order to be on the safe side, cur home
producers, who have surplus to sell, would
better accept the theory of the Indian govern
ment, and ii that is done, it would seem con-
elusive that the highest points have been sub
Stantlally reacned, especially, as mas been adj
verted to, the English economists can use the
argument of increased yield in India with &C
ceptability in depressing the estimates of re-
quirements of bread. supplies for the United
Kingdom as web as in other countries that are
short before the ha,vests of 1887 are available.
Hay is without change,
The offerings of clover-seed continue large,
aud are quoted lower.
Western bacon and lard show an advance.
In country table-supplies butter is quoted
lower, and eggs higher and wanted.
Poultry Is In good supplyto the extent of the
demand, but the season for 1t is about over and
quotations are dropped.
THE quotations ara wholesale, not retail
Country Produce.
APPLES-green q bushel............... .... 50d 75c
Dried. y pound re
BACoS-country cured.
shoulders
SIDES. ..Jc
BEES w .-.....-.-. .tCc
bUTrER....--. 25(9Z6c